University of Virginia Investment Management Co.'s pool of $14.5 billion in endowment assets and other long-term funds returned a gross 49% for the fiscal year ended June 30, according to an annual report posted on UVIMCO's website.
The return exceeded the pool's policy benchmark return of 29.4%.
For the three, five and 10 years ended June 30, the pool returned an annualized gross 18.4%, 15.8% and 12.1%, respectively, above the respective benchmarks of 13%, 11.6% and 8.8%.
For the fiscal year that ended June 30, the endowment pool returned a gross 5.3%.
The best-performing asset class for the most recent fiscal year was private equity, which returned a gross of 98.7%, followed by public equity at 51.4%; real assets at 49%; long/short equity at 33.3%; credit at 29.9%; marketable alternatives at 4.8%; fixed income at 1.4%; and no cash.
Benchmark information for individual asset classes was not provided.
The pool's actual allocation as of June 30 was 29.9% public equity; 26.4% private equity; 17% long/short equity; 10% real assets; 5.2% marketable alternatives; 4.8% credit; 3.9% fixed income; and 2.8% cash.
UVIMCO manages the long-term pool on behalf of the Charlottesville-based university and its foundations.